When a negative externality exists,
A. external costs are necessarily greater than private costs.
B. social costs equal private costs.
C. social costs are less than private costs.
D. social costs are greater than private costs.
E. none of the above
Answer: D
Economics
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The above figure shows the apartment rental market in Bigtown. If there is a shortage of 200,000 apartments in the Bigtown rental market, it might be because the Bigtown Housing Authority has imposed a rent
A) ceiling of $750.00 monthly. B) ceiling of $500.00 monthly. C) floor of $750.00 monthly. D) floor of $500.00 monthly.
Economics
A surplus can exist in the market only if there is:
a. a non binding price floor. b. a binding price floor. c. a binding price ceiling. d. a non binding price ceiling.
Economics